Panama tax-dodging for 1%, austerity for 99%

Iceland’s prime minister Sigmundur Davíð Gunnlaugsson has resigned after the leaked Panama papers from Mossack Fonseca law firm revealed that Gunnlaugsson once owned, and his wife still owns, an offshore investment company with multimillion-dollar claims on Iceland’s failed banks.

Among the property ownership authorities are looking into tax avoidance, evasion or any dishonest financial gains. Elliot Hill and Joya Mia Italiano detail the former prime ministers financial scandal on the Lip News.